(1) Participants in the Washington national guard postsecondary education grant program incur an obligation to repay the grant, with interest, unless they serve in the Washington national guard for one year for each year they received the grant, under rules adopted by the office.
(2) The office shall adopt rules addressing the terms for repayment, including applicable interest rates, fees, and deferments, by a participant who does not render service as a member of the Washington national guard necessary to satisfy his or her service obligation.
(3) The office is responsible for collection of repayments made under this section. The office shall exercise due diligence in such collection, maintaining all necessary records to ensure that maximum repayments are made. Collection and servicing of repayments under this section shall be pursued using the full extent of law, including wage garnishment if necessary. The office is responsible to forgive all or parts of such repayments under the criteria established in this section, and shall maintain all necessary records of forgiven payments.
(4) Receipts from the payment of principal or interest paid by or on behalf of participants shall be deposited with the office and shall be used to cover the costs of administration of the grant, maintaining necessary records, and making collections under subsection (3) of this section. The office shall maintain accurate records of these costs, and all receipts beyond those necessary to pay such costs shall be used to make grant awards to eligible students.